Group 1 - The core viewpoint of the news highlights the significant growth in the global smart glasses market, which saw a year-on-year increase of 110% in the first half of 2025, with expectations of maintaining a compound annual growth rate (CAGR) of over 60% from 2024 to 2029 [2] - Meta dominates the smart glasses market with a 73% share, while emerging companies like Xiaomi and RayNeo are accelerating their presence, contributing to the sustained interest in AI glasses [2] - Domestic semiconductor equipment has made breakthroughs in 28nm electron beam measurement equipment and electron beam lithography machines, which are crucial for enhancing China's semiconductor industry chain autonomy [2] Group 2 - The current demand in the electronics industry is experiencing a mild recovery, prompting recommendations to focus on the AI server supply chain, AIOT, equipment materials, and the localization of automotive electronics [2] - The Sci-Tech Innovation Board Semiconductor Materials and Equipment Theme Index has seen a decline of 1.11%, with significant drops in constituent stocks such as Xinyichang and Shanghai Hejing [1] - The Sci-Tech Semiconductor ETF (588170) has shown a weekly increase of 5.51% as of August 20, 2025, with a notable trading volume and liquidity, indicating active market participation [1]

Group 1: Market Performance - The Shanghai Stock Exchange's Sci-Tech Innovation Board semiconductor materials and equipment index decreased by 0.39% as of August 21, 2025 [1] - Among constituent stocks, Jingyi Equipment led with a 7.00% increase, while Shanghai Hejing fell by 4.87% [1] - The Sci-Tech Semiconductor ETF (588170) dropped by 0.52%, with a latest price of 1.14 yuan [1] Group 2: Trading Activity - The Sci-Tech Semiconductor ETF (588170) had a turnover rate of 16.49%, with a trading volume of 68.0184 million yuan, indicating active market participation [1] - Over the past week, the ETF accumulated a 5.51% increase [1] - The ETF's average daily trading volume over the past week was 104 million yuan [1] Group 3: Fund Flows and Growth - The Sci-Tech Semiconductor ETF saw a significant growth of 1.51 billion yuan in size over the past month [1] - The ETF's shares increased by 10.4 million over the past month, indicating substantial growth [1] - Recent net outflow from the ETF was 64.4746 million yuan, but there were 17 days of net inflow totaling 113 million yuan over the last 23 trading days [1] Group 4: Industry Insights - OpenAI's CFO reported a milestone of $1 billion in monthly revenue in July, highlighting the ongoing demand for AI despite challenges in computing power [2] - CITIC Securities noted that tariff policies have provided a temporary boost to sentiment in the semiconductor industry, coinciding with a busy earnings release period in August [2] - The semiconductor equipment and materials sector is crucial for domestic substitution, benefiting from low domestic replacement rates and high potential ceilings under the AI demand expansion [2]

截至2025年8月21日 09点50，上证科创板半导体材料设备主题指数下跌0.26%。成分股方面涨跌互 现，中微公司领涨0.65%，盛美上海上涨0.58%，中芯国际上涨0.36%；晶升股份领跌3.21%，新益昌下 跌2.99%，京仪装备下跌1.94%。科创半导体ETF（588170）下跌0.44%，最新报价1.14元。拉长时间 看，截至2025年8月20日，科创半导体ETF近1周累计上涨5.51%。 从日K线图来看，今日科创半导体ETF虽然回调，但MACD依然未有死叉迹象，红柱依然扩大，表 示多方力量仍在，调整或为机遇。 爱建证券指出算力芯片市场正面临重构契机，ASIC、FPGA、CPU、GPU基于性能与场景差异化构 建多层次算力体系，其中ASIC凭借低功耗与高定制化优势在AI边缘推理等场景占据能效成本优势，核 心玩家包括Google、寒武纪； 【免责声明】本文仅代表作者本人观点，与和讯网无关。和讯网站对文中陈述、观点判断保持中立，不对所包含内容 的准确性、可靠性或完整性提供任何明示或暗示的保证。请读者仅作参考，并请自行承担全部责任。邮箱： news_center@staff.hexun.com 公开信息显示 ...

Group 1 - The core viewpoint of the articles highlights the ongoing fluctuations in the semiconductor materials and equipment sector, with specific attention to the performance of the STAR Market Semiconductor Materials and Equipment Index and related ETFs [1][2]. - As of August 20, the STAR Market Semiconductor Materials and Equipment Index decreased by 0.18%, with mixed performance among constituent stocks, including Shanghai Hejing rising by 6.35% and Jing Sheng Co. falling by 3.83% [1]. - The STAR Market Semiconductor ETF (588170) saw a slight decline of 0.36%, with a recent price of 1.1 yuan, but has shown a cumulative increase of 3.18% over the past week [1]. Group 2 - The global semiconductor materials market is projected to reach approximately $70 billion by 2025, with a year-on-year growth of about 6%, driven by AI-related demand [2]. - The silicon wafer market is expected to reach around $14 billion by 2025, with a year-on-year growth of 3.8% and a projected increase in shipment area of 5.4% [2]. - The domestic semiconductor materials market is anticipated to benefit from a rising domestic production rate, presenting a favorable investment window [2]. Group 3 - The semiconductor materials ETF (562590) and its associated funds focus heavily on the upstream semiconductor sector, with 59% of the index comprising semiconductor equipment and 24% comprising semiconductor materials [3].

Group 1 - The Shanghai Stock Exchange's Sci-Tech Innovation Board semiconductor materials and equipment index decreased by 0.80% as of August 20, with mixed performance among constituent stocks [1] - New Yichang led the gains with an increase of 4.04%, while Jing Sheng Co. experienced the largest decline at 4.40% [1] - The Sci-Tech Semiconductor ETF (588170) fell by 0.91%, with a latest price of 1.09 yuan and a net inflow of 33.32 million yuan [1] Group 2 - The Sci-Tech Semiconductor ETF and its linked funds track the semiconductor materials and equipment index, covering 59% semiconductor equipment and 25% semiconductor materials [2] - The semiconductor equipment and materials industry is a significant area for domestic substitution, characterized by low domestic replacement rates and high potential for domestic substitution [2] - The industry is expected to benefit from the expansion of semiconductor demand driven by the artificial intelligence revolution, technology restructuring, and advancements in lithography technology [2]

Core Viewpoint - The semiconductor materials and equipment sector on the STAR Market has shown strong performance, with significant increases in key stocks and ETFs, indicating positive market sentiment and potential investment opportunities in this area [1]. Group 1: Market Performance - As of August 20, the STAR Market semiconductor materials and equipment thematic index rose by 3.89% [1]. - Key component stocks such as Shanghai Hejing increased by 12.42%, Xinyi Chang by 9.32%, and Zhongke Feicai by 7.78% [1]. - The STAR semiconductor ETF (588170) also saw a rise of 3.99% [1]. Group 2: Market Sentiment - The daily K-line of the STAR semiconductor ETF (588170) displayed a bullish engulfing pattern, suggesting a positive market outlook [1]. - There was continuous premium trading at the end of the session, indicating that capital may continue to favor this sector [1]. Group 3: Capital Inflow - As of the market close, the main capital inflow into the semiconductor sector (Shenwan secondary) reached 9.5 billion yuan, making it the top sector in terms of capital accumulation [1]. Group 4: Sector Composition - The STAR semiconductor ETF (588170) and its linked funds track the STAR Market semiconductor materials and equipment thematic index, which includes 59% semiconductor equipment and 25% semiconductor materials companies [1]. - The semiconductor equipment and materials industry is a crucial area for domestic substitution, characterized by low domestic replacement rates and high ceilings for domestic substitution [1]. - This sector is expected to benefit from the expansion of semiconductor demand driven by the artificial intelligence revolution, waves of technological restructuring and mergers, and advancements in lithography technology [1].

截至2025年8月20日 10:39，上证科创板半导体材料设备主题指数上涨0.08%，成分股新益昌上涨 6.53%，上海合晶上涨3.81%，安集科技上涨1.32%，芯源微上涨1.30%，华海诚科上涨1.07%。科创半导 体ETF（588170）多空胶着，最新报价1.1元。拉长时间看，截至2025年8月19日，科创半导体ETF （588170）近1周累计上涨3.18%。流动性方面，科创半导体ETF（588170）盘中换手7.17%，成交 3297.56万元。拉长时间看，截至8月19日，科创半导体ETF（588170）近1周日均成交8440.53万元。规 模方面，科创半导体ETF（588170）最新规模达4.62亿元，创近3月新高。份额方面，科创半导体ETF （588170）最新份额达4.19亿份，创近3月新高。资金流入方面，科创半导体ETF（588170）最新资金 净流入3332.93万元。 消息面上，九峰山实验室8月19日官微消息，九峰山实验室近日在磷化铟（InP）材料领域取得重要 技术突破，成功开发出6英寸磷化铟（InP）基PIN结构探测器和FP结构激光器的外延生长工艺，关键性 能指标达到国际领先水平。这一 ...

Core Viewpoint - The semiconductor sector is currently in an upward cycle, driven by the strong performance of artificial intelligence (AI) and a recovery in the industrial sector, which is expected to benefit Chinese semiconductor manufacturers significantly in the future [1][2]. Group 1: Market Performance - As of August 19, 2025, the Shanghai Stock Exchange's Sci-Tech Innovation Board Semiconductor Materials and Equipment Theme Index fell by 1.01%, with mixed performance among constituent stocks [1]. - Leading stocks included Jing Sheng Co., which rose by 6.09%, and Shen Gong Co., which increased by 3.87%, while Shanghai Hejing fell by 5.64% [1]. - The Sci-Tech Semiconductor ETF (588170) decreased by 1.33%, with a latest price of 1.11 yuan, indicating a potential opportunity for investment during the pullback [1]. Group 2: Investment Logic - The investment logic in the semiconductor sector can be divided into two main lines: focusing on cloud computing with self-sufficiency and looking at downstream growth in terminal markets [1]. - The semiconductor equipment and materials industry is crucial for domestic substitution, characterized by low domestic replacement rates and high ceilings for domestic alternatives [2]. - The sector is expected to benefit from the expansion of semiconductor demand driven by the AI revolution, technology restructuring, mergers and acquisitions, and advancements in lithography technology [2].

Core Viewpoint - The semiconductor materials and equipment sector in the STAR Market has shown strong performance, with significant gains in related stocks and ETFs, indicating heightened investor interest in this area [1] Group 1: Market Performance - As of August 18, the STAR Market semiconductor materials and equipment index rose by 2.43%, with notable stock increases: Aisen Co. up 12.53%, Huahai Chengke up 8.45%, and Tianyue Advanced up 6.96% [1] - The STAR Semiconductor ETF (588170) experienced a 2.83% increase, closing at 1.13 yuan, with active buying observed during the trading session [1] - The ETF's premium rose to 47 basis points by the end of the trading day, reflecting strong capital interest in semiconductor equipment and materials [1] Group 2: Industry Developments - A significant milestone was achieved with the first domestically produced commercial electron beam lithography machine, "Xizhi," entering application testing, matching the precision of international mainstream equipment [1] - The STAR Semiconductor ETF (588170) tracks the semiconductor materials and equipment index, comprising 59% semiconductor equipment and 25% semiconductor materials companies, highlighting the focus on hard technology [1] - The semiconductor equipment and materials sector is identified as a key area for domestic substitution, characterized by low domestic replacement rates and high potential for growth, driven by the expansion of semiconductor demand due to the AI revolution and technological advancements [1]

Core Insights - The Shanghai Stock Exchange's Sci-Tech Innovation Board semiconductor materials and equipment index has risen by 2.76% as of August 18, with notable increases in constituent stocks such as Huahai Chengke (up 8.03%), Tianyue Advanced (up 7.10%), and Aisen Co. (up 5.98%) [1] - The Sci-Tech Semiconductor ETF (588170) has also seen a rise of 2.64%, indicating active market trading with a turnover of 75.84 million yuan and a turnover rate of 18.06% [1] - According to China International Capital Corporation (CICC), the demand for AI hardware is expected to grow significantly due to the increasing capabilities of large models and the expansion of AI inference computing power [1] Industry Trends - There is a confirmed increase in domestic and international demand for computing power, which is expected to drive growth in AI hardware [1] - The importance of networks in AI Data Center (AIDC) applications is anticipated to rise [1] - The acceleration of AI applications such as Agents is expected to contribute to market growth [1] Investment Opportunities - The Sci-Tech Semiconductor ETF (588170) tracks the semiconductor materials and equipment index, focusing on companies in semiconductor equipment (59%) and materials (25%) sectors [1] - The semiconductor equipment and materials industry is identified as a key area for domestic substitution, benefiting from low domestic replacement rates and high potential for domestic alternatives [1] - The sector is poised to gain from the expansion of semiconductor demand driven by the AI revolution, technology restructuring, and advancements in lithography technology [1]